That means the bank maintaining a deposit rate of -0.4%, a
refinancing rate of 0.0%, and a quantitative easing programme of
up to €60 billion per month.

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No change was widely expected, with markets virtually certain
that the ECB would stay on hold in September.

The bank's statement announcing its decision was virtually
identical to that delivered after the August meeting.

Following the announcement, focus will switch to any hints from
President Mario Draghi during his post-announcement press
conference about the future direction of policy, and when the ECB
will start to taper QE further. Draghi will speak to the media
after 1.30 p.m. BST (8.30 a.m. ET).

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The ECB is due to make a decision about whether it will continue
asset buying at its current pace, or continue the tapering
process toward ending QE, in December this year.

The bank already reduced its programme from €80 billion per month
to €60 billion earlier in 2017, and Draghi hinted in July that
Autumn would be when it started to discuss tapering further.

However, since then the euro has strengthened aggressively
against the dollar, something that is likely to dissuade the bank
from making any tapering decision just yet.

Draghi will likely address any decision on these discussions
during his press conference, but is not expected to make any
announcements just yet.